Country Group, Pi Ventures pick up stake in Coinbag

Country Group Holdings Plc (CGH) and its early-stage investment arm, Pi Ventures, have agreed to take a 16.6 per cent effective interest in digital wealth management platform Coinbag to update the market on a new initiative and partnership in financial technology space.

Coinbag was founded with a mission of making digital asset investing simple and stress-free. The platform uses algorithms to create personalised digital asset portfolios that match clients’ individual financial objectives and generate passive income by connecting with a range of decentralised finance (DeFi) applications.

The seed-stage fintech company from Europe is in the process of securing regulatory approval to open up access to major markets and launching automated digital asset staking at the next update.

CGH chief executive officer Tommy Taechaubol said Pi Ventures had identified Coinbag as a stand-out opportunity and ecosystem partner based on the quality of the end-to-end user experience the team has developed. Clients are on-boarded via a fully-online process which establishes their wealth-building goals and risk tolerance, and thereafter the platform’s technology stack handles the rest, he said.

All of the complexity and pain points typically involved in constructing and managing diversified digital asset portfolios (from a universe of potentially thousands of unique instruments), maintaining security and transacting with DeFi smart contracts are abstracted from the client, resulting in a customer journey which requires zero technical knowledge of cryptocurrencies and blockchain applications.

Clients can be comfortable that their allocation to digital assets is appropriately secured, appropriately diversified and most importantly appropriate for them, the company said.

Coinbag is part of a new generation of fintech developers operating at the intersection of digital assets and automated wealth management. These platforms, also known as ‘robo-advisers’, use algorithms to create personalised recommendations and portfolios at massive scale, a disruptive technological development affecting both the securities and wealth management industries and trending both globally and in Thailand.

CGH has been following this technology for many years and sees it playing a major role in the future of the Pi platform, consistent with Pi’s vision of being a true personal trading and investment companion for the fast-moving modern lifestyle.

Pi Ventures continues to seek investment opportunities globally in companies and projects that can add value to the Pi ecosystem, with notable additional transactions in the pipeline, the company said. The early-stage investment company is backed by a 500-million-baht capital commitment from CGH.